Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.09 million callable contingent coupon notes linked to indexes
New York, Dec. 12 – BofA Finance LLC priced $2.09 million of market-linked securities – callable with contingent coupon and contingent downside due Oct. 28, 2027 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes carry a contingent coupon of 9%, payable quarterly for each quarter in which each index closes at or above 70% of its initial value.
The notes will be callable quarterly at par starting after six months from issue.
The payout at maturity will be par unless any index ends below its 65% threshold value, in which case investors will be exposed to the losses of the worst performing index.
The notes are guaranteed by Bank of America Corp.
Wells Fargo Securities, LLC and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Market-linked securities – callable with contingent coupon and contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2,086,000
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| Maturity: | Oct. 28, 2027
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| Coupon: | 9%, payable quarterly if each index closes at or above 70% coupon barrier
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| Price: | Par
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| Payout at maturity: | Par unless any index ends below its 65% threshold value, in which case loss of 1% for every 1% decline of the worst performing index
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| Call: | Starting April 24, 2024 at par
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| Initial levels: | 4,186.77 for S&P 500, 1,651.428 for Russell 2000 index, 14,381.64 for Nadaq-100 index
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| Coupon barriers: | 2,930.739 for S&P 500, 1,155.9996 for Russell 2000 index, 10,067.148 for Nadaq-100 index, 70% of initial levels
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| Threshold levels: | 2,721.4005 for S&P 500, 1,073.4282 for Russell 2000 index, 9,348.066 for Nadaq-100 index, 65% of initial levels
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Agents: | Wells Fargo Securities, LLC and BofA Securities, Inc.
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| Fees: | 2.325%
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| Cusip: | 09711AWM6
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